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Prepare income statement for the year

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Question - These financial statement items are for Raiders Company at year end, December 31, 2016.

Salaries and wages payable $2,980

Salaries and wages expense $45,700

Utilities expense $19,100

Equipment $38,000

Accounts payable $4,100

Service Revenue $57,000

Rent Revenue $6,500

Notes payable (long term) $3,000

Cash $7,200

Accounts receivable $9,780

Accumulated depreciation $6,000

Dividends $4,000

Depreciation Expense $4,000

Retained Earnings $28,000

Common Stock $20,000

A) Prepare income statement for the year.

B) Prepare retained earnings statement for the year.

C) Prepare classified balance sheet at December 31.

Reference no: EM131678487

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